UKCBC Manifesto for Change 2025: The UKCBC put forward its manifesto for change - detailing an eight stage plan the UK must take to become the epicentre of the blockchain, digital asset and web3 ecosystems. Regulation is only part of the puzzle.
Don’t bank on it: The UK Cryptoasset Business Council (UKCBC) co-authored this report, revealing that crypto and Web3 firms in the UK face widespread denial of basic banking services, posing a serious barrier to innovation and growth.
UKCBC response to FCA Discussion Paper 24/4 : The UKCBC responded to the FCA's proposals (DP24/4), urging for a balanced, proportionate regulatory regime that fosters innovation without disadvantaging UK crypto businesses.
UKCBC response to FCA Discussion Paper 25/1: The UKCBC responded to the FCA’s Discussion Paper 25/1 on Regulating Cryptoasset Activities. The UKCBC recommends a more flexible and proportionate approach in areas such as staking, lending, and the use of credit, cautioning against blanket bans and advocating for tailored safeguards that support innovation and consumer access.
UKCBC letter calling for the inclusion of distributed ledger technology (DLT) into UK-US Tech Bridge: The UKCBC has written to the Secretary of State for Business and Trade urging the Government to make distributed ledger technology (DLT) a central part of the UK-US Tech Bridge, highlighting its potential to transform financial services, boost innovation and strengthen transatlantic markets.
UKCBC technical feedback on the regulatory regime for cryptoassets (regulated activities) – Draft SI and Policy Note: UKCBC warned that without targeted technical revisions, innovation, particularly in stablecoin payments and decentralised finance, could be stifled.
UKCBC joint letter to Varun Chandra, Special Advisor to the Prime Minister on Business & Investment: UKCBC in a joint letter to the Prime Minister’s Special Advisor urged the UK Government to prioritise blockchain and digital assets as strategic economic drivers.
UKCBC response to FCA Consultation Paper 25/14: The UKCBC responded to the FCA’s consultation on stablecoin issuance and cryptoasset custody, welcoming the proposals as a positive step but identifying areas for improvement to ensure clarity, flexibility, and competitiveness. Key recommendations included simplifying backing asset rules, allowing interest from backing assets to be passed to consumers, permitting regulated group entities to safeguard assets, providing flexibility on redemption timelines, and maintaining operational discretion for custodians.
UKCBC report on DeFi: The UKCBC sets out in the report that DeFi can boost efficiency, transparency and competition in UK financial markets by enabling non‑custodial, atomic T+0 settlement and modular financial stacks that free trapped capital. DeFi has three technical layers blockchain, protocol/smart contracts and UI with core characteristics and risks, including smart‑contract vulnerabilities, scams, and regulatory arbitrage. The report urges international alignment on standards and clearer UK tax rules, including a proposed no‑gain/no‑loss treatment for certain DeFi transactions, to reduce uncertainty and support market growth.
UKCBC response to PSR CP24/11: The UKCBC supported the proposed £85,000 cap on APP scam reimbursements, citing reduced prudential impact and increased room for innovation. UKCBC called on the Payment Systems Regulator to simplify the ambiguous definition of “account controlled by the consumer” to avoid costly disputes and regulatory uncertainty for payment firms.
UKCBC response to FCA Consultation Paper 25/15: The UKCBC responded to the FCA’s consultation on a prudential regime for cryptoasset firms, noting concerns that the proposals may be disproportionately stringent, insufficiently tailored to cryptoassets, and less competitive than regimes in other jurisdictions. It suggested adjustments to own funds, K-factor, and liquid asset requirements to ensure proportionality and support the participation of smaller firms.